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PRAXIS Praxis Business Education: Content Knowledge (5101)Exam Sample Questions:

1. Company A is the category leader in the orange juice industry and produces Product A at $3.00 per unit.
Company B is the second category leader in the industry and produces Product B at $2.70 per unit. Because an early frost affected the orange crop, Company A raised the price of Product A to $4.00 per unit. Company B subsequently raised the price of Product B to $3.60 per unit. Which of the following pricing strategies is Company B using for Product B?

A) Premium pricing
B) Dynamic parity
C) Discount pricing
D) Pure parity

2. Which of the following is most likely to teach skills that will help students make a smooth transition from school to work?

A) Joining a student organization
B) Developing an electronic portfolio
C) Making an educational plan
D) Searching for a part-time job

3. In international trade, the practice of dumping refers to

A) exporting low-quality products at a price above the normal value
B) exporting normal-quality products at a price below the home market cost
C) exporting high-quality products at a price equivalent to the cost of production
D) exporting unwanted products out of the country of origin

4. In Jennifer's workplace, employees are encouraged to participate in problem-solving and quality improvement. Which of the following is true about Jennifer's employer?

A) Her employer needs to be more proactive.
B) Her employer risks encouraging power struggles.
C) Her employer takes a hands-off approach.
D) Her employer practices employee empowerment.

5. Which of the following types of statements is referred to as a picture of a company in the future?

A) Closing statement
B) Value statement
C) Mission statement
D) Vision statement

Solutions: